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Foreign deposits with UAE banks rise to USD20b

15 Jan 2012

(MENAFN) The UAE’s central bank said that during 2011’s January-September period, deposits made by foreign banks into the UAE grew to reach around USD20 billion, from USD14 billion at 2010’s same period, reported Emirates 24/7.

The bank added that in August, deposits grew by almost USD3.26 billion, recording he highest increase in the whole period, on the other hand, combined foreign assets also went up to about USD66.77 billion form USD63.56 billion a year earlier.

It also said that at the end of June, UAE banks’ total foreign liabilities increased to nearly USD85.69 billion, compared with USD73.93 billion at the end of 2010.

It is worth noting that at the end of September, net foreign assets stayed negative at USD18.91billion, compared with USD10.37 billion at the end of 2010.

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